Spy chief defends Obama administration
In a statement, Director of National Intelligence James R. Clapper Jr.
weighs in on the deadly assault on the U.S. mission in Libya.
(
by Greg Miller
, The Washington Post)

China’s currency rising against the dollar
The value of China’s yuan closed Friday near a record high against the
dollar, approaching what some analysts consider a fair market price and
potentially easing concerns that the country’s currency policy is
damaging the U.S. economy.
(
by Howard Schneider
, The Washington Post)

Romney attacked on Chinese investments
The Obama campaign says it is inappropriate for a presidential nominee to be investing so much money there.
(
by Philip Rucker and Jia Lynn Yang
, The Washington Post)

BofA to Pay $2.43 Billion to End Shareholder Suit Over Merrill
Bank of America Corp. agreed to a $2.43 billion settlement with
investors who suffered losses during its acquisition of Merrill Lynch
& Co., resolving one of the biggest legal battles to stem from the
takeover.
(
by Zachary Tracer and Bradley Keoun
Bloomberg News
, Bloomberg)

Spy chief defends Obama administration
In a statement, Director of National Intelligence James R. Clapper Jr.
weighs in on the deadly assault on the U.S. mission in Libya.
(
by Greg Miller
, The Washington Post)

Bo Xilai ousted from Communist Party
Once-powerful official, accused of multiple crimes, purged from ranks in advance of leadership transition.
(
by William Wan
, The Washington Post)

Grief takes many forms after SUV crash kills 4 NJ high school football players, injures 4 more LINWOOD, N.J. — As Chris Hickey thought about what she could say to comfort her daughter on the death of her schoolmates, she opened her mouth once, then twice, unable at first to put sound to words. She tried a third time, standing on the track of Mainland Regional High School Sunday night, a day after a crash on the Garden State Parkway killed four of the school’s football players and injured four more. ( Associated Press Associated Press , AP)

A few stones tossed across Potomac Neighboring governors Martin O’Malley of Maryland and Robert McDonnell of Virginia made their first joint TV appearance as heads of their respective governors associations. ( by John Wagner and Anita Kumar , The Washington Post)

WORLDClashes erupt near Gadhafi compound in Libyan capital TRIPOLI, Libya — Tanks opened fire at rebels trying to storm Moammar Gadhafi’s main compound in Tripoli on Monday, although the whereabouts of the longtime Libyan leader remained unknown a day after a lightning advance by opposition fighters who poured into Tripoli capital with surprising ease. ( Associated Press Associated Press , AP)

World leaders say end is near for Gadhafi, urge him to surrender ROME — World leaders said Monday the end is near for the regime of Moammar Gadhafi and called on the Libyan leader to relinquish power, as hundreds of Libyans living abroad celebrated in the streets after rebels took control of most of the Libyan capital. ( Associated Press Associated Press , AP)

June 27, 2011

TODAY'S HIGHLIGHTS At Fort Campbell, mixed reviews for Afghan planPfc. Rob Nunez, who spent eight months in Konar province near the Pakistani border, and some of his fellow soldiers have vastly different reactions to the plan. (By Kevin Sieff)

Does GOP have a compromise on debt?As President Obama prepares to meet with Senate leaders to try to restart talks over the debt, some Republicans see a potential path to compromise: Significant cuts in military spending. (By Lori Montgomery and Paul Kane)

A pair of veteran spies cross pathsBetty McIntosh and Doris Bohrer served in the OSS and CIA, but their remarkable friendship didn’t form until they moved to the same retirement community. (By Ian Shapira)

AP IMPACT: Once-rural populations skyrocket near some US nuclear plants, evacuations unlikely BUCHANAN, N.Y. — As America’s nuclear power plants have aged, the once-rural areas around them have become far more crowded and much more difficult to evacuate. Yet government and industry have paid little heed, even as plants are running at higher power and posing more danger in the event of an accident, an Associated Press investigation has found. ( Associated Press Associated Press , AP)

Ask Amy: Husband ’fesses up to old affairs; wife is torn Her husband confessed to indulging in two affairs years ago. She went to counseling with him and was told by the counselor to “get over it.” A) She’s not ready to and B) What kind of therapist is that? (, Tribune Media Service)

PGA Tour: Travelers win is Jacobson’s first title CROMWELL, Conn. — Fredrik Jacobson closed out his first PGA Tour title on Sunday, shooting a 4-under 66 in the Travelers Championship for a one-stroke victory over John Rollins and Ryan Moore. ( Associated Press Associated Press , AP)

Real Wheels Live Live online discussion with Real Wheels columnist Warren Brown about car-buying and the auto industry. (, vForum)

Lisa de Moraes on the TV Column Post TV columnist Lisa de Moraes is back and ready to chat about all the drama, comedy and heartbreak of the world of television -- both onscreen and behind-the-scenes! (, vForum)

Lisa de Moraes on the TV Column Post TV columnist Lisa de Moraes is back and ready to chat about all the drama, comedy and heartbreak of the world of television -- both onscreen and behind-the-scenes! (, vForum)

BUSINESSGreek deputies to begin debate on crucial austerity plans before votes ATHENS, Greece — Greek lawmakers begin debating new austerity plans Monday that must pass this week if the debt-ridden country is to receive the critical next installment of loans from its international bailout plan and avoid default. ( Associated Press Associated Press , AP)

June 20, 2011

TODAY'S HIGHLIGHTS McIlroy captures history at CongressionalRory McIlroy posts the lowest mark in tournament history, shooting a final-round 69 for a total of 16-under 268, as he runs away with the 111th U.S. Open. (By Barry Svrluga)

CEO Pay: What the area’s executives makeHefty stock awards and bonuses drove total compensation up over 20 percent for Washington’s highest-paid chief executives last year, reflecting a nationwide trend among the largest public companies. (By Danielle Douglas)

STYLEAsk Amy: Words of love, uttered and ... forgotten? During a weekend outing, her boyfriend told her he loved her, would marry her “in a week” and wanted her to have his baby. The next day, he couldn’t remember what he said. Yes, there was drinking involved. (, Tribune Media Service)

Hints From Heloise: Special guest request Heloise asks: Is it fair to ask for unusual, specialty or hard-to-find food items when you are a guest in someone’s home? Readers, what do you have to say? (, King)

Calm by the green, crazed by the pitch At the U.S. Open and the Gold Cup, vastly dissimilar cultures were on display — entirely different, yet very much the same. ( by Rick Maese , The Washington Post)

FTC vs. National Gallery Republican lawmaker’s push to have the National Gallery take over the historic FTC building has sparked a turf battle in Washington. ( by Ned Martel , The Washington Post)

Sunday's Sports In Brief BETHESDA, Md. — On another brilliant day of golf, Rory McIlroy ran away with the U.S. Open title, winning by eight shots and breaking the tournament scoring record by a whopping four strokes. ( Associated Press Associated Press , AP)

WORLDReports: Japan's prime minister under pressure to resign next month TOKYO — Japanese Prime Minister Naoto Kan, criticized for his handling of the tsunami disaster and the country’s sluggish economy, is under pressure to resign next month if budget bills are passed by parliament, reports said Monday. ( Associated Press Associated Press , AP)

White House report on Libya does little to soothe anger among lawmakers on Capitol Hill WASHINGTON — The White House is vigorously defending President Barack Obama’s right to keep the U.S. military engaged in Libya without seeking congressional approval, a move that appears to have done little to soothe anger among Republican lawmakers and anti-war Democrats over the president’s consultations with Congress during the nearly three month-long campaign. ( Associated Press Associated Press , AP)

Miss Manners: Who wins in ‘culture’ clash? Dear Miss Manners: When cultural differences result in different expectations of the hostess and guest obligations, to whose culture should we defer; the hostess’s or the guest’s? (, United Media)

Romney will skip Iowa straw poll in AugustFormer Massachusetts governor, widely regarded as the front-runner in the GOP presidential race, has decided not to participate in this year’s Iowa straw poll nor any other early tests in advance of the 2012 primaries and caucuses, his campaign announced Thursday night. (By Philip Rucker and Chris Cillizza)

Senate legislation may slow, but quorums continueThe old ritual of calling senators to the Senate floor to bide time, “quorum calls,” has increased dramatically. Meanwhile, the amount of legislative business the body conducts is down. (By David A. Fahrenthold)

An embassy-in-exileAmerican diplomats who evacuated from Libya are still working — in a makeshift mission at the State Department. (By Mary Beth Sheridan)

Redistricting stalemate in Virginia The GOP-controlled Virginia House of Delegates and the Democratic-led state Senate approved conflicting plans for redistricting. ( by Rosalind S. Helderman , The Washington Post)

Ask Amy: Learning the truth about the past I come from a very large family — eight sisters and three brothers. By the time I was 8, my father and mother had both died. I went to live with my oldest sister (also the oldest child in the family) and her husband and his son. (, Tribune Media Service)

Hints From Heloise: Sanitizing a spa tub I am requesting a suggestion for deep-cleaning or sanitizing my spa tub. I’ve just cleaned it and scrubbed the jets with an old toothbrush. I want to be certain that all bacteria is gone so I can feel good about getting in my spa tub. (, King)

SPORTSThursday's Sports In Brief OSLO, Norway — Usain Bolt ran the fastest time in the world this season as he eased to victory in the 200 meters at a Diamond League meet, while Caster Semenya finished third behind Halima Hachlaf in the 800 meters. ( Associated Press Associated Press , AP)

Gates says NATO has a ‘dim’ future BRUSSELS — America’s military alliance with Europe — the cornerstone of U.S. security policy for six decades — faces a “dim, if not dismal” future, U.S. Defense Secretary Robert Gates said Friday in a blunt valedictory address. ( Associated Press Associated Press , AP)

Karzai arrives in Pakistan for reconciliation talks Afghan President Hamid Karzai arrived in Islamabad Friday for talks with top Pakistani leaders amid cautious hopes that the two nations can forge a coordinated strategy for reconciling with insurgents. ( by Griff Witte and Pamela Constable , The Washington Post)

May 27, 2011

TODAY'S HIGHLIGHTS CIA to search bin Laden compoundThe arrangement would allow the CIA for the first time to enter a complex that it had previously scrutinized only from a distance. (By Greg Miller and Karen DeYoung)

Serbia arrests Ratko Mladic on war crimes chargesRatko Mladic, the former Bosnian Serb general charged with orchestrating the largest mass killing of civilians in Europe since World War II, was arrested Thursday in Serbia, ending a nearly 16-year manhunt. (By Colum Lynch)

Online letters claim innocence in Md. slayingAn interest in yoga brought a businessman-poet and AU professor together. Now he’s accused in her death. In online letters, the man — believed to be in Mexico — says he’s not guilty. (By Dan Morse)

Mitt Romney launching campaign on June 2 Former Massachusetts governor Mitt Romney will formally announce his presidential campaign next Thursday, June 2, in New Hampshire. (By Chris Cillizza and Rachel Weiner)

POLITICSObama signs Patriot Act extension; will continue anti-terror surveillance powers WASHINGTON — Congress on Thursday passed a four-year extension of post-Sept. 11 powers to search records and conduct roving wiretaps in pursuit of terrorists. Votes taken in rapid succession in the Senate and House came after lawmakers rejected attempts to temper the law enforcement powers to ensure that individual liberties are not abused. ( Associated Press Associated Press , AP)

Congress approves extension of Patriot Act provisions Racing against the clock, Congress passed an extension to key provisions of the USA Patriot Act that allow investigators to keep using aggressive surveillance tactics. ( by Paul Kane and Felicia Sonmez , The Washington Post)

Gingrich casts self as ‘comeback kid’ The roughly 600 people who came to see Newt Gingrich during his two-day campaign swing through New Hampshire were largely uninterested in his purchases at Tiffany & Co. ( by Nia-Malika Henderson and Dan Eggen , The Washington Post)

Paul and the Other Paul The most memorable moment of Paul Simon’s concert comes with the star attraction happily observing. ( by David Malitz , The Washington Post)

SPORTSTillman’s tactics help Terps The Final Four-bound Maryland men’s lacrosse team has responded to first-year Coach John Tillman’s team-building techniques. ( by Christian Swezey , The Washington Post)

Lisa de Moraes on the TV Column Post TV columnist Lisa de Moraes is back and ready to chat about all the drama, comedy and heartbreak of the world of television -- both onscreen and behind-the-scenes! (, vForum)

Competing plans on job growth President Obama and Congressional Republicans unveil competing plans to reduce the cost of doing business for U.S. companies. ( by Zachary A. Goldfarb , The Washington Post)

Ex-Nasdaq exec pleads guilty to fraud Former executive traded on confidential information about companies listed on the Nasdaq, reaping more than $755,000 from 2006 to 2009. ( by David S. Hilzenrath , The Washington Post)

May 09, 2011

Hip-hop, black Hollywood and skating rinks are usually the first things that are associated with urban culture in Atlanta. However, a city that has allowed thousands of upwardly mobile blacks to maintain success continues to neglect the problems that lower class citizens face.

With their debut film Snow On Tha Bluff, Curtis Snow and Damon Russell present a disturbing side of Atlanta that’s often ignored. Filmed similar to The Blair Witch Project and grittier than “The Wire,” cameras follow Snow as he deals drugs, do stick-up jobs and search for ways to raise his infant son.

While several graphic scenes could allude to the glorification of drug dealing and violence, Snow and Russell insist that the narrative film serves as a testimonial. The two recently sat down with rolling out magazine to discuss their project. –amir shaw

For those who have never been to that section in Atlanta, what is The Bluff?

Snow: The Bluff is a neighborhood where everyone is one-track-minded. It’s right around the corner from downtown Atlanta, Georgia Dome and Centennial Olympic Park. The people there are surviving and barely making it. The B.L.U.F.F stands for you Better Leave, U [you] F*****’ Fool. If you’re coming to get something, just get it and go.

When you decided to create this film, what was the goal of the story?

Snow: We can walk outside and see everything that rappers are telling you. We just tried to bring you there in the middle of it and paint a picture. It’s not too many people who can show you what they do. It’s kind of like the federal government doing stuff that most of the world doesn’t know about. Same goes for us. It’s a lot going on in our neighborhoods and cities that [people] know nothing about. We’re trying to expose them to real poverty. It’s not just in Africa. It’s going on right next door.

Russell: Everyone should know about what’s going on in their city, whether it’s related to you or not. The first part is just seeing it and knowing that it’s there. You see it on the 10 o’clock news, but you don’t really feel it.

How have people reacted to your film?

Russell: Everyone reacted differently. The first time we showed it in Atlanta, it got really out of hand and a scuffle nearly occurred because some people couldn’t handle it. But we’ve gotten positive reactions as well. People who are not connected to the community are fascinated by it. The people who live in that world think that it’s authentic.

What does this film say about the city of Atlanta?

If they lived in Atlanta for a long time, they know how the city is ran. I just wanted them to know the true story of Atlanta — behind the scenes. Slum neighborhoods still exist. This is more than a greeting card fairy tale.

“Snow On Tha Bluff” will be shown on May 7 at the Landmark Midtown Theater during the Atlanta Film Fest.

April 14, 2011

A Man, A Plan, A DeficitPresident Obama outlined his plan for tackling the national debt Wednesday, drawing on liberal values and proposing tax cuts for the rich.Read original story in New York Times | Thursday, April 14, 2011

FAA Ends Solo Air Traffic Night ShiftsAfter another incident of a controller nodding off, federal authorities now insist each night shift must be a sleepover with more than one controller at the party.Read original story in Washington Post | Thursday, April 14, 2011

States Seek to Ban Animal Farm ExposesUndercover photos and videos are a favored tool of animal advocates looking to reveal squalid conditions and inhumane practices. Some states want to make them illegal, because not all animals are equal.Read original story in New York Times | Thursday, April 14, 2011

Blogger Sues Huffington PostAriana Huffington is a "robber baron" who has made millions off the backs of unpaid bloggers, says one contributer who's filed suit against the site.Read original story in Los Angeles Times | Wednesday, April 13, 2011

April 11, 2011

Obama To Deliver Deficit-Reduction Speech WednesdaySenior adviser David Plouffe told the Sunday shows that the president will outline his plan to reduce federal budget deficits and debt, including a call for wealthier Americans to pay more taxes.Read original story in USA Today | Sunday, April 10, 2011

Qaddafi Agrees to Peace PlanLibya's leader has agreed to the African Union's proposed cease-fire and "dialogue." But rebels say they will accept nothing less than the despot's resignation.Read original story in Washington Post | Monday, April 11, 2011

Concern Grows Over Debt Ceiling VoteIf it was so difficult to reach a deal on a budget until September that cut $38 billion, many are growing worried about the possibility that a divided Washington won't be able to agree on raising the current $14.25 trillion federal debt ceiling.Read original story in The New York Times | Sunday, April 10, 2011

General McChrystal is BackAfter dismissing McChrystal following his Rolling Stone debacle, Obama has asked the former Afghanistan commander to lead a program for military families. Read original story in New York Times | Monday, April 11, 2011

U.N. Hammers Ivory Coast PresidentPresident Laurent Gbagbo is vying for the title of most tenacious dictator, which means the U.N. and France have started bombarding his forces again.Read original story in CNN | Monday, April 11, 2011

Unusual Device Led To Confusion in Synagogue BlastFirst, officials said it was a bomb, then they said it was an accident, and now it's a bomb again. Part of the issue had to do with the fact that the explosive was layered under hundreds of pounds of concrete, making it difficult to identify.Read original story in The Los Angeles Times | Sunday, April 10, 2011

Mubarak Denies he Was a Corrupt PresidentIn his first comments since he was ousted from the Egyptian presidency, Hosni Mubarak denied he had abused his power and vowed to cooperate in any investigation.Read original story in Al Jazeera | Sunday, April 10, 2011

April 07, 2011

Budget Dispute Drags onObama, Boehner, and Reid met for 90 minutes in the Oval Office on Wednesday, and say they are inching closer to a deal.Read original story in New York Times | Thursday, April 7, 2011

Fox Drops Glenn BeckDing-dong! The demagogic host announced his departure from Fox News Wednesday, but not before likening himself to Paul Revere.Read original story in Los Angeles Times | Thursday, April 7, 2011

Qaddafi to Obama: Be My Pen Pal?"Our dear son, Excellency, Baraka Hussein Abu oumama, your intervention is the name of the U.S.A. is a must," the Libyan dictator wrote in a letter.Read original story in AP | Thursday, April 7, 2011

Berlusconi to Bunga Bunga Another DayBoth the Italian Prime Minister and his alleged escort, "Ruby Heartstealer," skipped their first day in court. The trial will resume May 31.Read original story in NPR | Wednesday, April 6, 2011

Will Giffords Run for Senate?Supporters are discussing the possibility that Rep. Gabrielle Giffords, who is still in hospital, could return to politics as a U.S. senator.Read original story in New York Times | Thursday, March 31, 2011

HIV Vaccine to Start Trials Within a YearThe new vaccine, comprised of synthetic, computer-generated sequences of proteins, could be a breakthrough in the more than 20-year struggle to find a way to prevent AIDS.Read original story in The Daily Mail | Wednesday, March 30, 2011

March 29, 2011

To certain members of Your Black Muslim Bakery, murder was a laughing matter, a confessed bakery hit man said Monday.

Devaughndre Broussard chuckled in the trial of bakery leader Yusuf Bey IV and another member of the group as he recalled how one victim tried to run away before Broussard emptied an assault rifle at him.

Bey and the other member, Antoine Mackey, made fun of how another victim's leg flew up in the air when he was riddled with rounds from a rifle, Broussard said.

In between the chilling details of those two slayings, Broussard testified for the first time about the shooting death of Chauncey Bailey, whom Bey allegedly ordered killed to prevent the Oakland journalist from writing about the black empowerment group's financial collapse.

Bey told Broussard to learn where Bailey lived and "find out his routine," Broussard told the jury in Alameda County Superior Court in Oakland. "He wanted us to take him out before he wrote that article."

It was Broussard's second day on the witness stand in the murder trial. He has confessed to being the gunman who killed Bailey with three shotgun blasts on Aug. 2, 2007, as the Oakland Post editor was walking to work at 14th and Alice streets in downtown Oakland.

Bey ordered up another slaying less than a month before Bailey's death, telling Broussard to kill Odell Roberson, 31, the uncle of the man who shot and killed Bey's brother, Broussard said.

He said Bey had initially wanted him to kill the father of Alfonza Phillips, who shot and killed Antar Bey during a botched carjacking in 2005.

Bey "wanted him whacked because his son killed his brother," Broussard said, adding that Bey believed in "an eye for an eye."

But after Broussard reported that he and Mackey couldn't find the elder Phillips, Bey told him to kill Roberson, a "dope fiend" and transient who lived on the streets of Oakland near the now-defunct bakery, Broussard testified.

"Take him out when you get the chance, because it seems like we can't get his pops," Broussard said Bey told him.

Broussard, 23, burst into laughter on the stand when he recounted how Roberson had tried to run away when he leveled an SKS assault rifle at him. He said he had fired the rifle "until the clip was empty," about eight to 10 rounds.

Broussard pleaded guilty to two counts of voluntary manslaughter in exchange for a 25-year sentence and a promise to testify against Bey and Mackey, both 25, in their murder trial.

Mackey is accused of killing a third victim, 36-year-old Michael Wills, in July 2007. Bey, who is accused of ordering the killing, boasted about "getting" a white "devil," Broussard said.

Mackey and Bey made fun of how Wills' leg flew up after he was shot, with both men shouting, "It's good!" while raising their arms straight up, simulating a field goal, Broussard testified.

Japan Plant Repair DelayedWorkers are trying to repair a ventilation system in the plant and channel enough power to a cable connected to reactor No. 2.Read original story in New York Times | Monday, March 21, 2011

Wyclef Jean Shot in HaitiThe pop star was grazed by a bullet as he campaigned for fellow musician Michel Martelly in the Haitian presidential election.Read original story in CNN | Monday, March 21, 2011

AT&T Buys T-Mobile for $39 BillionThe deal will make AT&T the biggest wireless carrier in the United States. It also means trouble for competitors and workers as AT&T consolidates the two companies. Read original story in Wall Street Journal | Monday, March 21, 2011

Knut Is DeadThe star polar bear of the Berlin Zoo died suddenly on Saturday, aged 4, as hundreds of tourists looked on in horror.Read original story in AP | Monday, March 21, 2011

The Congressman from Koch?Kansas Congressman Mike Pompeo received more money from Koch Industries than any other politician in 2010. Liberal groups say he's now pushing Koch-friend legislation in the House.Read original story in Washington Post | Monday, March 21, 2011

When Maggie Met JimmyA new trove of letters and documents suggest that hard-nosed British leader Margaret Thatcher was surprisingly chummy with President Jimmy Carter.Read original story in The Associated Press | Saturday, March 19, 2011

March 20, 2011

AT&T announced on Sunday that it had agreed to buy T-Mobile USA from Deutsche Telekom for $39 billion — a deal that would create the largest cellular carrier in the country.

The merger — one of the largest since the onset of the financial crisis — would combine the second and fourth largest cellular carriers in the nation, bringing together AT&T’s 95.5 million wireless subscribers with T-Mobile’s 33.7 million customers.

The transaction, which requires approval from regulators, is expected to be heavily scrutinized in Washington. The deal would leave only three major cellular carriers in the nation: AT&T, Verizon and a much smaller Sprint, which may now be forced to find a merger partner.

Already, some critics say the deal could result in higher prices for consumers. T-Mobile had offered some of the lowest rates in the country. While AT&T is expected to honor current T-Mobile contracts, it is likely that once those expire, T-Mobile customers may have to pay AT&T’s higher rates.

Still, according to the U.S. Government Accountability Office, cellular subscription costs fell 50 percent between 1999 and 2009, a period in which the industry has consolidated.

“Don’t believe the hype,” said S. Derek Turner, research director of Free Press Research, a Washington think tank. “There is nothing about having less competition that will benefit wireless consumers. And if regulators approve this deal, they will further cement duopoly control over the wireless market by AT&T and Verizon.”

From the companies perspective, a deal is a big cost saver. The combined company is expected save more than $40 billion – roughly the price of the deal – over the next three years by shuttering retail outlets in areas where they overlap, reducing the need to build new cellular sites as well as eliminating overlapping back office, technical and call center staff.

Marketing costs, too, could drop. Cellular carriers have been one of the biggest advertising spenders in the nation.

Of course, it all depends on whether the deal gets the O.K. from regulators. Deutsche Telecom was so worried that the deal will not be approved that it pushed AT&T to pay a big breakup fee as a form of insurance, according to people involved in the deal. AT&T agreed to pay Deutsche Telecom a massive $3 billion breakup fee, as well as offer the company spectrum if the deal is blocked by regulators.

In hopes of winning over lawmakers, AT&T has agreed to deploy its fourth generation wireless broadband coverage to 95 percent of the country, including rural and small communities.

The Justice Department is expected to weigh in on the deal, examining the combined company’s share on a market-by-market basis. In some cities, T-Mobile is not among the four largest players, potentially helping AT&T’s case for approval. For example, in Miami, San Francisco and Detroit, Metro PCS has more customers than T-Mobile.

In an interview, AT&T’s chairman and chief executive, Randall Stephenson, said he expects the industry “will continue to be a fiercely competitive market” pointing out that “prices continue to move down.” He also said that in many markets, “on the local level you have a choice of five or more providers. When you get to the facts this a deal that gets approved.”

Under the terms of the deal, AT&T will pay $25 billion in cash and the rest in stock. Deutsche Telekom will in turn gain an 8 percent stake in AT&T and a seat on the telecom giant’s board.

AT&T’s bid will finally solve the problem facing T-Mobile USA, the smallest of the country’s four major cellphone service providers. Both companies operate on the same wireless standard, GSM. Through the deal, T-Mobile will finally gain a path for the next generation of cellphone data, known as 4G, by using AT&T’s forthcoming LTE standard.

Deutsche Telekom had been considering its options for T-Mobile for over a year. It had considered an initial public offering for the company, but shelved it. More recently, it had held talks about selling the unit to Sprint.

The talks with AT&T– which started in earnest back in December of 2010 — heated up in recent weeks amid renewed speculation about a Sprint-T-Mobile tie-up, according to people involved in the talks.

To keep the deal from leaking, the AT&T team had devised a complicated list of code names, known as “Project Auto” to throw people off the scent. AT&T was called “Tesla”; Deutsche Telecom was “Daimler” and T-Mobile was “Mercury.” When asked why T-Mobile was named after “Mercury” – not exactly known as for high-performance vehicles – Mr. Stephenson of AT&T chuckled: “We needed an ‘M.’ Nothing more.”

An army of investment bankers, which are expected to make hundreds of millions of dollars worked on the deal. AT&T was advised by Greenhill & Company, JPMorgan Chase and Evercore Partners, as well as the law firms Sullivan & Cromwell, Arnold & Porter, and Crowell & Moring. Deutsche Telekom was advised mainly by Morgan Stanley. Deutsche Bank and Credit Suisse also acted as financial advisors for Deutsche Telekom. It, too, has hired a bevy of lawyers: Wachtell, Lipton, Rosen & Katz, Cleary Gottlieb and Wiley Rein to handle regulatory issues in Washington. SOURCE

Was RFK's Killer Brainwashed?On the eve of Sirhan Sirhan's parole hearing, his lawyer prepares to reveal new evidence about Sirhan's "hypno-programmed" state when he shot Robert Kennedy.Read original story in ABC | Wednesday, March 2, 2011

After Suicide, Rutgers Tests Mixed Gender HousingThe university is introducing a program that would allow students to pick their own roommate, male or female, after the suicide of gay student Tyler Clementi.Read original story in CNN | Wednesday, March 2, 2011

Police Remove Charlie Sheen's KidsPolice led away Sheen's boys after his ex-wife said he threatened to stick a pen knife in her eye. Sheen's response: "Defeat is not an option!"Read original story in TMZ | Wednesday, March 2, 2011

House Averts Government ShutdownThe House passed a bill Tuesday that will fund the government for another two weeks, but another fight is looming over the permanent funding extension. Read original story in Politico | Tuesday, March 1, 2011

Yemeni Cleric Calls for an Islamic StateA cleric on an American list of "specially designated global terrorists" made an appearance at an anti-government rally Tuesday, calling for the resignation of President Ali Abudllah Saleh and the creation of "an Islamic state."Read original story in The New York Times | Tuesday, March 1, 2011

February 28, 2011

The King's Speech Triumphs at OscarsThe period costume drama won best picture while its star Colin Firth picked up the best actor Oscar. Natalie Portman of Black Swan won best actress in a ceremony critics are calling anticlimactic.Read original story in The New York Times | Monday, Feb. 28, 2011

Rebels Closing In on QaddafiArmed forces opposed to the Libyan dictator are in control of a town 30 miles west of Tripoli that is now surrounded by government forces. Is Oman next?Read original story in The New York Times | Sunday, Feb. 27, 2011

September 2012

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